LONDON (Alliance News) – Lithium exploration and development company Bacanora Minerals Ltd said Wednesday that it has issued CAD4.3 million of shares in response to an option exercise.
"Bacanora's last reported cash position was circa CAD30 million and these extra funds further bolster our strong cash resources, which are more than enough to see us through to the end of our feasibility study and offtake discussions," said Interim Chairman James Leahy.Canadian and London listed Bacanora said an unnamed institutional shareholder had exercised a warrant option for 2.9 million new shares at a price of CAD1.47 each, following which it will have a total of 110.8 million shares in issue.
Shares in Bacanora were down 1.7% at 88.00 pence Wednesday.
By Adam Clark; [email protected]
Original Article: http://www.lse.co.uk/AllNews.asp?code=8epm2his&headline=Bacanora_Minerals_Issues_CAD42_Million_In_Shares_On_Option_Exercise_ALLISS
